In London, 99% of all stores are closed on Christmas Day, including restaurants, cafes, and Tescos. So if you haven’t been stocking up on food, you’re out of luck. After scouring the Islington neighborhood for food, we came across a McDonalds that was miraculously open. However, when we tried to pay for our meal, the cashier refused to take our card.
Coming from the US, our credit cards are of the magnetic stripe variety where a vendor has to swipe and then obtain a signature. In the UK and most of the world, merchants have already switched to the next generation of smart cards (with an embedded chip). Instead of providing a signature, the customer types in their PIN number into the machine and the sale is completed.
Smart cards are arguably safer than swipe cards because it’s harder for thieves to commit fraud. For example, a thief can easily forge a signature, but he or she might not know your PIN number. Likewise, at a restaurant the waiter brings the machine to your desk rather than taking your card away, reducing the likelihood that a disgruntled waiter will steal your credit card number for later use. Overall, it keeps the credit card near your body much longer.
So far, the US has been resistant to the change. In fact, I hadn’t even heard of smart cards before traveling abroad. The biggest reason I’ve read is that replacing every card reader at every single airport, train station, supermarket, restaurant, theater, etc. would be a major pain in the butt. At the same time, fraud prevention costs are not high enough to convince credit card companies to make the switch. The hassle for US travelers abroad is not a big enough incentive.
Considering both Canada and Mexico are switching to smart cards, would it be so hard for US banks to issue cards that contain both the magnetic stripe as well as a chip?
In the end, we were saved by a corner off-licence (liquor store) run by some Middle Eastern folks who not only were open on Christmas but accepted our credit card as well. Now to eat our samosa and khobez bread.
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